21 July 2005

Governor Kathleen Sebelius Comments on Positive Standard and Poor’s Report on the Kansas Economy

Reacting to a favorable Standard & Poor’s report on the state’s bond rating, Governor Kathleen Sebelius said today, “This report, coming from a highly respected, neutral source, offers further evidence on the growing strength of the Kansas economy. We have worked very hard to make tough decisions and wise policy choices to help our economy grow and increase our financial strength.”

Standard & Poor’s analyst James Breeding noted that Kansas’ “economic growth and resulting financial gains have been impressive.” Even with increased school costs, Breeding concluded that the state’s financial condition warranted upgrading the S&P outlook to “stable” from “negative” on the state’s AA+ bond rating.

“I am very pleased that S&P has recognized our hard work since 2003,” Governor Sebelius said . “I’m also mindful of the clear emphasis by S&P that we must continue our practice of conservative fiscal management. We simply can’t spend more than we take in, and I look forward to working with the Legislature to meet the challenges of keeping our budget balanced and our economy strong.”

Standard & Poor’s ratings for the fifty states range from A to AAA. Kansas’ current AA+ rating places it within the top third of all states.